The South Korean industrial company Doosan Heavy Industries and Construction (DHIC) has received the initial payment for the US$2.79bn Nghi Son 2 (NS-2) coal-fired power plant project, which may now go forward in the central province of Thanh Hoa, about 200 kilometers south of Hanoi (Vietnam).
A consortium including Korea Power Electric Corp. (Kepco) and Marubeni Corporation (Japan) signed the US$2.79bn contract for the construction and the operation of the power plant in November 2017. Both will hold a 50% share in the project, which will thrive for a 25-year period. 75% of the funds required for the construction of the facility will be provided by the Export-Import Bank of South Korea.
The project will include two 665 MW supercritical boilers, generating units and high efficiency turbines, which will operate separately to allow for higher flexibility and efficiency. The power plant is scheduled for completion by July 2022.